June 13, 2008
Citadel Plastics Holdings Inc. (Citadel) has acquired Bulk Molding Compounds Inc. (BMCI; West Chicago, IL), the largest supplier of custom formulated bulk molding compounds. Citadel is a portfolio company of Chicago-based private equity investment firm Wind Point Partners. According to a release on the acquisition, Citadel intends to build a global plastics compounding company with broad product and technology capabilities. BMCI joins the first company in the Citadel portfolio, thermoplastics compounder The Matrixx Group (Evansville, IN; www.matrixxgroup.com). Citadel is led by Mike Fitzpatrick, its chairman and CEO and a 30-year veteran of specialty chemicals supplier Rohm and Haas.
BMCI owner Larry Nunnery will retain his position as CEO of BMCI (www.bulkmolding.com) through 2008. Nunnery bought BMCI in 1989 and grew the company from a $7 million/yr revenue, single-plant business to its current $130 million/yr sales, seven-site portfolio. BMCI has production at two sites each in the U.S. and Mexico and one each in China, Germany, and Brazil.—[email protected]
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